Webster Financial Co. (NYSE:WBS) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 3,989,000 shares, a growth of 18.8% from the July 31st total of 3,356,600 shares. Approximately 4.4% of the company’s shares are short sold. Based on an average daily volume of 671,100 shares, the short-interest ratio is presently 5.9 days.
Shares of WBS stock traded up $1.15 on Friday, hitting $49.26. The stock had a trading volume of 581,861 shares, compared to its average volume of 571,683. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.49 and a beta of 1.29. The stock’s 50 day moving average is $46.78 and its 200-day moving average is $49.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.83 and a current ratio of 0.83. Webster Financial has a 52-week low of $42.62 and a 52-week high of $63.34.
Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. Webster Financial had a net margin of 27.99% and a return on equity of 13.80%. The business had revenue of $317.60 million during the quarter, compared to the consensus estimate of $312.36 million. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts expect that Webster Financial will post 4.11 earnings per share for the current year.
WBS has been the subject of several recent research reports. Morgan Stanley raised shares of Webster Financial from an “underweight” rating to an “equal weight” rating and set a $51.00 price objective for the company in a research report on Monday, July 1st. Boenning Scattergood reissued a “neutral” rating on shares of Webster Financial in a research report on Friday, July 19th. Finally, Zacks Investment Research raised shares of Webster Financial from a “sell” rating to a “hold” rating and set a $49.00 price objective for the company in a research report on Friday, July 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Webster Financial presently has an average rating of “Hold” and a consensus price target of $56.25.
In other news, Director John Joseph Crawford sold 1,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $49.49, for a total value of $49,490.00. Following the completion of the sale, the director now owns 16,099 shares of the company’s stock, valued at $796,739.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Bley sold 2,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $51.45, for a total transaction of $102,900.00. Following the completion of the sale, the executive vice president now directly owns 18,654 shares of the company’s stock, valued at approximately $959,748.30. The disclosure for this sale can be found here. Insiders have sold 4,000 shares of company stock valued at $203,670 in the last ninety days. 1.53% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Webster Financial by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 936,640 shares of the financial services provider’s stock worth $46,166,000 after buying an additional 82,053 shares during the period. Bank of Montreal Can increased its position in shares of Webster Financial by 13.3% in the 1st quarter. Bank of Montreal Can now owns 10,753 shares of the financial services provider’s stock valued at $544,000 after acquiring an additional 1,262 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Webster Financial by 26.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,500 shares of the financial services provider’s stock valued at $1,089,000 after acquiring an additional 4,554 shares during the period. Texas Permanent School Fund increased its position in shares of Webster Financial by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 62,662 shares of the financial services provider’s stock valued at $3,175,000 after acquiring an additional 2,303 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Webster Financial by 8.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 86,984 shares of the financial services provider’s stock valued at $4,407,000 after acquiring an additional 6,950 shares during the period. Hedge funds and other institutional investors own 88.52% of the company’s stock.
Webster Financial Company Profile
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
Further Reading: Diluted Earnings Per Share
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